The Economist has come out with its annual list of the world’s most expensive cities. Its calculations include a number of factors, including the cost of a loaf of bread, a bottle of wine, a liter of gasoline or a pack of smokes.

For more details—including my attempts to smoke a cigarette and the marriage of Barbie and a shrimp—watch the video.

Bottom line, when it comes to the bottom line, no American city is even in the top 20.

Here are the top five, along with a few sample prices (we converted liters to gallons):

No. 4: A tie between Oslo and Melbourne

Melbourne:

Loaf of bread: $4.87Bottle of wine: $25.03Gallon of gas: $5.64Pack of cigarettes: $15.72

Oslo:

Loaf of bread: $6.31Bottle of wine: $17.58Gallon of gas: $9.88Pack of cigarettes: $15.24

No. 3: Sydney

Loaf of bread: $5.03Bottle of wine: $25.38Gallon of gas: $5.68Pack of cigarettes: $15.48

No. 2: Osaka

Loaf of bread: $7.94Bottle of wine: $17.55Gallon of gas: $7.42Pack of cigarettes: $5.57

No. 1: Tokyo

Loaf of bread: $9.06Bottle of wine: $15.95Gallon of gas: $7.46Pack of cigarettes: $5.57

Tokyo has retaken the top spot after last year's winner, Zurich, fell to No. 7. The Japanese capital has been the most expensive city all but six times since 1992, earning it the title "Land of the Rising Sums."

Other cities are worthy of dishonorable mentions. Singapore has the most expensive average price for a bottle of wine, $25.65. Caracas, in the middle of Venezuela’s social unrest, has the most expensive average price for bread, nearly $9.50 a loaf.

But take heart! Not everywhere is expensive. Some cities are a bargain!

The least expensive cities on The Economist list are Algiers, Katmandu, New Delhi, Mumbai and, cheapest of all, Karachi, known as "The Gateway to Pakistan!" Bread and cigarettes—the two main food groups—are both under $2 in Karachi.

Of course, life is cheap, too. The city is considered one of the most dangerous in the world.

About Top/Best/Most

Top/Best/Most is the ultimate list mash-up – this CNBC/Yahoo! Finance co-production takes a look at the week’s top lists, offering viewers a digestible bite of the “must know” in the list world. Our series features the top lists, the best moments, and the most buzzed goings-on of the week.